$AMED
AMEDISYS INC

2017 Q2 Form 10-Q Financial Statement

#000119312517237451 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $374.9M $360.7M
YoY Change 3.94% 14.8%
Cost Of Revenue $220.5M $206.5M
YoY Change 6.8% 17.53%
Gross Profit $154.4M $154.2M
YoY Change 0.13% 11.34%
Gross Profit Margin 41.18% 42.75%
Selling, General & Admin $120.9M $130.9M
YoY Change -7.64% 10.65%
% of Gross Profit 78.3% 84.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.600M $4.900M
YoY Change -6.12% 4.26%
% of Gross Profit 2.98% 3.18%
Operating Expenses $125.5M $135.9M
YoY Change -7.65% 10.58%
Operating Profit $240.0K $18.30M
YoY Change -98.69% 17.86%
Interest Expense $1.197M -$900.0K
YoY Change -233.0% -137.25%
% of Operating Profit 498.75% -4.92%
Other Income/Expense, Net $2.326M $700.0K
YoY Change 232.29% -75.96%
Pretax Income $2.566M $18.09M
YoY Change -85.81% -1.92%
Income Tax -$1.963M $7.242M
% Of Pretax Income -76.5% 40.04%
Net Earnings $4.500M $10.70M
YoY Change -57.94% 0.94%
Net Earnings / Revenue 1.2% 2.97%
Basic Earnings Per Share $0.13 $0.32
Diluted Earnings Per Share $0.13 $0.32
COMMON SHARES
Basic Shares Outstanding 33.64M shares 33.20M shares
Diluted Shares Outstanding 34.33M shares 33.71M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.20M $10.00M
YoY Change 492.0% -69.88%
Cash & Equivalents $59.16M $9.968M
Short-Term Investments
Other Short-Term Assets $40.60M $17.30M
YoY Change 134.68% -29.96%
Inventory
Prepaid Expenses
Receivables $173.4M $152.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $273.1M $179.5M
YoY Change 52.14% 6.59%
LONG-TERM ASSETS
Property, Plant & Equipment $34.40M $44.60M
YoY Change -22.87% -33.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $139.1M $158.9M
YoY Change -12.46% -7.24%
Total Long-Term Assets $532.8M $531.6M
YoY Change 0.23% 11.45%
TOTAL ASSETS
Total Short-Term Assets $273.1M $179.5M
Total Long-Term Assets $532.8M $531.6M
Total Assets $805.9M $711.1M
YoY Change 13.33% 10.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.10M $35.10M
YoY Change -17.09% 60.27%
Accrued Expenses $188.1M $149.7M
YoY Change 25.65% 7.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.100M $5.000M
YoY Change 62.0% -58.33%
Total Short-Term Liabilities $225.3M $189.8M
YoY Change 18.71% 7.83%
LONG-TERM LIABILITIES
Long-Term Debt $83.20M $89.50M
YoY Change -7.04% 7.19%
Other Long-Term Liabilities $4.300M $4.000M
YoY Change 7.5% -31.03%
Total Long-Term Liabilities $83.20M $89.50M
YoY Change -7.04% 7.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $225.3M $189.8M
Total Long-Term Liabilities $83.20M $89.50M
Total Liabilities $313.8M $279.3M
YoY Change 12.36% 4.96%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $492.1M $426.9M
YoY Change
Total Liabilities & Shareholders Equity $805.9M $711.1M
YoY Change 13.33% 10.18%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $4.500M $10.70M
YoY Change -57.94% 0.94%
Depreciation, Depletion And Amortization $4.600M $4.900M
YoY Change -6.12% 4.26%
Cash From Operating Activities $36.20M $14.70M
YoY Change 146.26% -65.41%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M -$3.200M
YoY Change -6.25% -78.08%
Acquisitions
YoY Change
Other Investing Activities -$20.20M -$300.0K
YoY Change 6633.33% -106.25%
Cash From Investing Activities -$23.20M -$3.600M
YoY Change 544.44% -62.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.100M -8.900M
YoY Change -76.4% 229.63%
NET CHANGE
Cash From Operating Activities 36.20M 14.70M
Cash From Investing Activities -23.20M -3.600M
Cash From Financing Activities -2.100M -8.900M
Net Change In Cash 10.90M 2.200M
YoY Change 395.45% -92.69%
FREE CASH FLOW
Cash From Operating Activities $36.20M $14.70M
Capital Expenditures -$3.000M -$3.200M
Free Cash Flow $39.20M $17.90M
YoY Change 118.99% -68.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
432000
amed Cash Distribution To Noncontrolling Interest
CashDistributionToNoncontrollingInterest
200000
amed Cash Distribution To Noncontrolling Interest
CashDistributionToNoncontrollingInterest
90000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0
us-gaap Interest Paid
InterestPaid
1172000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
284000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
230000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4203000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
11943000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8608000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2811000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9915000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
370000
us-gaap Interest Paid
InterestPaid
1359000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11362000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-522000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
84000000
us-gaap Pension Expense
PensionExpense
3440000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-464000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9448000
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
436000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
24128000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12315000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5551000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1207000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
362000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
30349000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27502000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8193000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10992000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8954000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
607000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
28967000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
27634000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2500000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-17534000
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9968000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
7130000
amed Increase Decrease In Securities Class Action Lawsuit Settlement Accrual
IncreaseDecreaseInSecuritiesClassActionLawsuitSettlementAccrual
28712000
amed Increase Decrease In Securities Class Action Lawsuit Settlement Accrual
IncreaseDecreaseInSecuritiesClassActionLawsuitSettlementAccrual
0
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5726000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
26895000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-37751000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-6678000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
63341000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-31448000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2926000
us-gaap Use Of Estimates
UseOfEstimates
<p style='margin-top:9pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0px;">Use of Estimates</font></p><p style='margin-top:9pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;">Our accounting and </font><font style="font-family:Times New Roman;font-size:10pt;">reporting policies conform with </font><font style="font-family:Times New Roman;font-size:10pt;">U.S.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">G</font><font style="font-family:Times New Roman;font-size:10pt;">AAP</font><font style="font-family:Times New Roman;font-size:10pt;">. </font><font style="font-family:Times New Roman;font-size:10pt;">In preparing the </font><font style="font-family:Times New Roman;font-size:10pt;">unaudited </font><font style="font-family:Times New Roman;font-size:10pt;">condensed </font><font style="font-family:Times New Roman;font-size:10pt;">consolidated financial statements, we are required to make estimates and assumptions that impact the amounts reported in the</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">condensed </font><font style="font-family:Times New Roman;font-size:10pt;">consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.</font></p>
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<p style='margin-top:9pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0px;">Reclassifications and Comparability</font></p><p style='margin-top:9pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;">Certain reclassifications have been made to prior periods' financial statements in order to conform to the current period's presentation.</font></p><p style='margin-top:9pt; margin-bottom:0pt'>&#160;</p>
CY2017Q2 amed Minimum Percent Ownership For Controlling Interest Percent
MinimumPercentOwnershipForControllingInterestPercent
0.50 pure
CY2017Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
34 States
CY2016Q4 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
27800000
CY2017Q2 amed Maximum Percent Ownership For Cost Method Percent
MaximumPercentOwnershipForCostMethodPercent
0.20 pure
CY2017Q2 amed Maximum Percent Ownership For Equity Method Percent
MaximumPercentOwnershipForEquityMethodPercent
0.50 pure
CY2017Q2 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
27100000
amed Episode Of Care As Episodic Based Revenue
EpisodeOfCareAsEpisodicBasedRevenue
60
amed Episodes In Progress That Begin During Reporting Period
EpisodesInProgressThatBeginDuringReportingPeriod
60
amed First Threshold Of Therapy Services Required
FirstThresholdOfTherapyServicesRequired
6 Number_of_Visits
amed Third Threshold Of Therapy Services Required
ThirdThresholdOfTherapyServicesRequired
20 Number_of_Visits
amed Low Utilization Payment Adjustment Number Of Visits
LowUtilizationPaymentAdjustmentNumberOfVisits
5 Number_of_Visits
CY2017Q2 amed Hospice Medicare Revenue Rate Accounted For Routine Care
HospiceMedicareRevenueRateAccountedForRoutineCare
0.99 pure
amed Hospice Medicare Revenue Rate Accounted For Routine Care
HospiceMedicareRevenueRateAccountedForRoutineCare
0.98 pure
amed Percentage Of Total Reimbursement Of Outlier Payment
PercentageOfTotalReimbursementOfOutlierPayment
0.10 pure
amed Second Threshold Of Services Required
SecondThresholdOfServicesRequired
14 Number_of_Visits
CY2016Q2 amed Hospice Medicare Revenue Rate Accounted For Routine Care
HospiceMedicareRevenueRateAccountedForRoutineCare
0.99 pure
CY2017Q2 amed Percentageofpatientreceivablesoutstandingovertenpercent
Percentageofpatientreceivablesoutstandingovertenpercent
0.123 pure
amed Percentage Of Patient Receivables Outstanding
PercentageOfPatientReceivablesOutstanding
0.1 pure
amed Minimum Days Accounts Receivable Outstanding Fully Reserved
MinimumDaysAccountsReceivableOutstandingFullyReserved
365
CY2016 amed Portion Of Patient Accounts Receivable Derived From Medicare
PortionOfPatientAccountsReceivableDerivedFromMedicare
0.61 pure
amed Historical Collection Rate From Medicare
HistoricalCollectionRateFromMedicare
0.99 pure
amed Rate Of Request For Anticipated Payment Submitted For Initial Episode Of Care
RateOfRequestForAnticipatedPaymentSubmittedForInitialEpisodeOfCare
0.6 pure
amed Rate Of Request For Anticipated Payment Submitted For Subsequent Episodes Of Care
RateOfRequestForAnticipatedPaymentSubmittedForSubsequentEpisodesOfCare
0.5 pure
amed Maximum Days To Submit Final Bill From Start Of Episode
MaximumDaysToSubmitFinalBillFromStartOfEpisode
120
amed Maximum Days To Submit Final Bill From Date Request For Anticipated Payment Was Paid
MaximumDaysToSubmitFinalBillFromDateRequestForAnticipatedPaymentWasPaid
60
CY2017Q2 amed Revenue Adjustment To Medicare Revenue
RevenueAdjustmentToMedicareRevenue
5000000
amed Portion Of Patient Accounts Receivable Derived From Medicare
PortionOfPatientAccountsReceivableDerivedFromMedicare
0.58 pure
amed Revenue Adjustment To Medicare Revenue
RevenueAdjustmentToMedicareRevenue
8400000
amed Revenue Adjustment To Medicare Revenue
RevenueAdjustmentToMedicareRevenue
4300000
CY2016Q2 amed Revenue Adjustment To Medicare Revenue
RevenueAdjustmentToMedicareRevenue
2600000
CY2017Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
93600000
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
169000 shares
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
199000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
329000 shares
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
181000 shares
CY2017Q2 amed Non Vested Stock And Stock Units
NonVestedStockAndStockUnits
363000 shares
CY2016Q2 amed Non Vested Stock And Stock Units
NonVestedStockAndStockUnits
330000 shares
amed Non Vested Stock And Stock Units
NonVestedStockAndStockUnits
378000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
248000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
240000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
285000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
134000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34329000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33637000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33197000 shares
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
93000000
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
91300000
CY2017Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
83200000
CY2017Q2 amed Total Leverage Ratio
TotalLeverageRatio
1.0 pure
CY2017Q2 amed Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
3.9 pure
CY2017Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2300000
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2700000
CY2017Q2 amed Corporate Integrity Agreement Term
CorporateIntegrityAgreementTerm
P5Y
amed Health Insurance Retention Limit
HealthInsuranceRetentionLimit
900000
amed Workers Compensation Insurance Retention Limit
WorkersCompensationInsuranceRetentionLimit
500000
amed Professional Liability Insurance Retention Limit
ProfessionalLiabilityInsuranceRetentionLimit
300000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segments
amed General And Administrative Expense Segment
GeneralAndAdministrativeExpenseSegment
239600000
CY2017Q2 amed General And Administrative Expense Segment
GeneralAndAdministrativeExpenseSegment
120900000
amed General And Administrative Expense Segment
GeneralAndAdministrativeExpenseSegment
254200000

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0001193125-17-237451.txt Edgar Link pending
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amed-20170630.xml Edgar Link completed
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